Genworth to Participate in Mex Mortgage Program

U.S.-based mortgage insurer Genworth Financial Inc. has made plans to participate in the mortgage guarantee program of Mexico's Sociedad Hipotecaria Federal through a risk-sharing agreement.Under the agreement, Genworth said it will assume a portion of the risk of loans guaranteed under the current SHF program, which is designed to drive homeownership by developing new mortgage products and expanding secondary mortgage markets in Mexico. "Mexico's housing and mortgage markets are poised for growth in both scale and products, and our mortgage guaranty program can play an important role in the development of both," said Brian Hurley, president of Genworth's international mortgage guaranty insurance operations outside Europe. Genworth can be found online at http://www.genworth.com.